Garmin (NASDAQ:GRMN) Receiving Somewhat Positive Media Coverage, Analysis Finds
Headlines about Garmin (NASDAQ:GRMN) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Garmin earned a news impact score of 0.04 on Accern’s scale. Accern also gave media coverage about the scientific and technical instruments company an impact score of 44.0860364696168 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the news headlines that may have impacted Accern’s analysis:
- Looking for stock with Analysts Rating? Garmin Ltd. (GRMN) – Wall Street Morning (wallstreetmorning.com)
- Is GoPro Trading at a Discount to Analysts’ Target Estimates? (finance.yahoo.com)
- Buy Garmin (GRMN) on Recent Weakness – Tigress Financial Partners – StreetInsider.com (streetinsider.com)
- Garmin (GRMN) Receives Buy Rating from Tigress Financial (americanbankingnews.com)
- Garmin Ltd. Announces Quarterly Dividend of $0.51 (GRMN) (americanbankingnews.com)
GRMN has been the subject of several analyst reports. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub cut shares of Garmin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Thursday, January 4th. Credit Suisse Group reiterated an “underperform” rating and issued a $58.00 target price (up from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Finally, Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.13.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The company had revenue of $888.49 million during the quarter, compared to analyst estimates of $872.73 million. Garmin had a net margin of 22.51% and a return on equity of 15.16%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. analysts anticipate that Garmin will post 3.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 18th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.47%. This is a positive change from Garmin’s previous quarterly dividend of $0.51. Garmin’s payout ratio is presently 55.43%.
In related news, VP Andrew R. Etkind sold 1,929 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $60.61, for a total value of $116,916.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Peffer sold 9,905 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $60.55, for a total transaction of $599,747.75. The disclosure for this sale can be found here. In the last three months, insiders sold 48,042 shares of company stock valued at $3,070,184. 18.30% of the stock is owned by insiders.
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Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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